Jurassic Coast Meats Ltd 06661098 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is Meat suppliers Digita Accounts Production Advanced 6.30.9574.0 true true false 06661098 2022-07-01 2023-06-30 06661098 2023-06-30 06661098 bus:OrdinaryShareClass1 2023-06-30 06661098 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-06-30 06661098 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-06-30 06661098 core:CurrentFinancialInstruments 2023-06-30 06661098 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 06661098 core:Non-currentFinancialInstruments 2023-06-30 06661098 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 06661098 core:MoreThanFiveYears 1 2023-06-30 06661098 core:ConstructionInProgressAssetsUnderConstruction 2023-06-30 06661098 core:FurnitureFittings 2023-06-30 06661098 core:MotorVehicles 2023-06-30 06661098 core:PlantMachinery 2023-06-30 06661098 bus:SmallEntities 2022-07-01 2023-06-30 06661098 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 06661098 bus:FullAccounts 2022-07-01 2023-06-30 06661098 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 06661098 bus:RegisteredOffice 2022-07-01 2023-06-30 06661098 bus:CompanySecretaryDirector1 2022-07-01 2023-06-30 06661098 bus:Director1 2022-07-01 2023-06-30 06661098 bus:Director2 2022-07-01 2023-06-30 06661098 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 06661098 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 06661098 bus:Agent1 2022-07-01 2023-06-30 06661098 core:Buildings 2022-07-01 2023-06-30 06661098 core:ConstructionInProgressAssetsUnderConstruction 2022-07-01 2023-06-30 06661098 core:FurnitureFittings 2022-07-01 2023-06-30 06661098 core:LeaseholdImprovements 2022-07-01 2023-06-30 06661098 core:MotorVehicles 2022-07-01 2023-06-30 06661098 core:OtherPropertyPlantEquipment 2022-07-01 2023-06-30 06661098 core:PlantMachinery 2022-07-01 2023-06-30 06661098 1 2022-07-01 2023-06-30 06661098 countries:EnglandWales 2022-07-01 2023-06-30 06661098 2022-06-30 06661098 core:ConstructionInProgressAssetsUnderConstruction 2022-06-30 06661098 core:FurnitureFittings 2022-06-30 06661098 core:MotorVehicles 2022-06-30 06661098 core:PlantMachinery 2022-06-30 06661098 2021-07-01 2022-06-30 06661098 2022-06-30 06661098 bus:OrdinaryShareClass1 2022-06-30 06661098 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-06-30 06661098 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2022-06-30 06661098 core:CurrentFinancialInstruments 2022-06-30 06661098 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 06661098 core:Non-currentFinancialInstruments 2022-06-30 06661098 core:Non-currentFinancialInstruments core:AfterOneYear 2022-06-30 06661098 core:MoreThanFiveYears 1 2022-06-30 06661098 core:ConstructionInProgressAssetsUnderConstruction 2022-06-30 06661098 core:FurnitureFittings 2022-06-30 06661098 core:MotorVehicles 2022-06-30 06661098 core:PlantMachinery 2022-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 06661098

Jurassic Coast Meats Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

image-name

Chartered Accountants

 

Jurassic Coast Meats Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 10

 

Jurassic Coast Meats Ltd

Company Information

Directors

Mr E A Sealey

Mr J E A Sealey

Mrs E J Sealey

Company secretary

Mrs E J Sealey

Registered office

Fossil Farmhouse
Winfrith Newburgh
Dorchester
Dorset
DT2 8DB

Accountants

Edwards & Keeping
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Jurassic Coast Meats Ltdfor the Year Ended 30 June 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Jurassic Coast Meats Ltd for the year ended 30 June 2023 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Jurassic Coast Meats Ltd, as a body, in accordance with the terms of our engagement letter dated 22 October 2015. Our work has been undertaken solely to prepare for your approval the accounts of Jurassic Coast Meats Ltd and state those matters that we have agreed to state to the Board of Directors of Jurassic Coast Meats Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Jurassic Coast Meats Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Jurassic Coast Meats Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Jurassic Coast Meats Ltd. You consider that Jurassic Coast Meats Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Jurassic Coast Meats Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.






Edwards & Keeping
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

14 March 2024

 

Jurassic Coast Meats Ltd

(Registration number: 06661098)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

221,487

196,740

Current assets

 

Stocks

74,172

67,653

Debtors

5

337,149

261,592

Cash at bank and in hand

 

4,377

5,121

 

415,698

334,366

Creditors: Amounts falling due within one year

6

(594,095)

(519,175)

Net current liabilities

 

(178,397)

(184,809)

Total assets less current liabilities

 

43,090

11,931

Creditors: Amounts falling due after more than one year

6

(117,050)

(103,627)

Net liabilities

 

(73,960)

(91,696)

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

(73,961)

(91,697)

Shareholders' deficit

 

(73,960)

(91,696)

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 14 March 2024 and signed on its behalf by:
 



Mr J E A Sealey
Director

 

Jurassic Coast Meats Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Fossil Farmhouse
Winfrith Newburgh
Dorchester
Dorset
DT2 8DB
England

These financial statements were authorised for issue by the Board on 14 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. Despite the company currently having net liabilities, the directors consider the company to be a going concern as they will not seek repayment of their loans until such time as funds allow.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Jurassic Coast Meats Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2023

Government grants

Revenue grants are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. A grant that becomes receivable as compensation for expenses or losses already incurred, or for the purpose of giving immediate financial support to the company with no future related costs, shall be recognised in income in the period in which it becomes receivable.

Grants relating to expenditure on tangible fixed assets are credited to the profit and loss account at the same rate as the depreciation charge on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.

The company accessed a government backed Coronavirus "Bounce Back Loan" in 2020. The loan is 100% guaranteed by the government.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment

25% Reducing balance basis

Motor vehicles

20% Straight line basis (where not under finance)

Integral features

10% Straight line basis

Leasehold improvements

5% Straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for goods sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Jurassic Coast Meats Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Jurassic Coast Meats Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 17 (2022 - 18).

 

Jurassic Coast Meats Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2023

4

Tangible assets

Leasehold improvements
 £

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2022

55,055

4,255

214,373

160,919

434,602

Additions

2,661

574

19,635

56,495

79,365

At 30 June 2023

57,716

4,829

234,008

217,414

513,967

Depreciation

At 1 July 2022

5,188

2,769

134,103

95,802

237,862

Charge for the year

2,765

430

22,814

28,609

54,618

At 30 June 2023

7,953

3,199

156,917

124,411

292,480

Carrying amount

At 30 June 2023

49,763

1,630

77,091

93,003

221,487

At 30 June 2022

49,867

1,486

80,270

65,117

196,740

 

Jurassic Coast Meats Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2023

5

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

261,218

217,040

Amounts owed by related parties

63,116

36,386

Prepayments

 

3,184

2,899

Other debtors

 

9,631

5,267

   

337,149

261,592

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

201,727

149,402

Trade creditors

 

203,079

180,533

Taxation and social security

 

17,216

20,362

Accruals and deferred income

 

10,979

12,444

Other creditors

 

161,094

156,434

 

594,095

519,175


Creditors due within one year include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £171,770 (2022 - £119,032).

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

117,050

103,627

2023
£

2022
£

Due after more than five years

After more than five years by instalments

12,336

18,514

-

-

Creditors due after one year include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £81,007 (2022 - £62,062).

 

Jurassic Coast Meats Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

         

8

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank loans and overdrafts

143,004

98,747

Hire purchase contracts

34,289

25,655

Other creditors

24,434

25,000

201,727

149,402

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

40,940

50,689

Hire purchase contracts

76,110

52,938

117,050

103,627

9

Parent and ultimate parent undertaking

The company's immediate parent is Fossil Farms Limited, incorporated in England and Wales.